Know About the RBI Assistant Salary Structure and Job Profile

This blog covers detailed information about the RBI assistant working in the Reserve Bank of India (RBI). It covers the breakdown of the gross salary, roles and responsibilities, pay scale with promotions, and the additional perks offered by RBI. If you want to apply for an assistant job at the RBI, make sure you give this blog a thorough read.

Did you know? 

According to RBI Assistant Notification 2022, a newly appointed Assistant in the Reserve Bank of India (RBI) will receive a starting gross salary of ₹ 45,050.

RBI Assistant Salary 2022

Abbreviated and commonly known as RBI, The Reserve Bank of India is the central bank of India, and it plays a pivotal role in regulating the Indian Banking System. The RBI assistant salary and perks are one of the most lucrative in the banking industry in India. The basic starting salary of an RBI Assistance is ₹20,700 per month. The RBI Assistant pay scale can be indicated as 20700 – 1200 / 3 – 24300 – 1440 / 4 - 30060 – 1920 / 6 – 41580 – 2080 / 2 – 45740 – 2370 / 3 – 52850 – 2850 – 55700. The RBI assistant salary slip indicates a gross salary of ₹45,050 per month, and it includes various allowances like House Rent Allowance, Dearness Allowance, Transport Allowance, etc.

RBI Assistant Salary in Hand

There is a lot of candidates who aspire to become RBI assistants. The recruitment for the position of RBI Assistant does not take place annually. The RBI Assistant officer's salary is ₹20,700 per month. The assistant’s salary undergoes annual increments, and at its maximum, the RBI assistant salary in hand is about ₹55,700.

Also read: Visual Merchandiser - Job Roles, Salary & How to Become Visual Merchandise

RBI Assistant Salary Structure

In the table below, you will find the various allowances that make up the salary structure of an RBI Assistant.

In the table below, you will find the deductions that are deducted from the salary of an RBI assistant which comes up to a total of ₹4,173.

RBI Assistant Pay Scale

The RBI Assistant pay scale is:

• Initially, The RBI assistant salary in hand is ₹20,700 with an annual hike of ₹1,200 given for the three initial years.
• After the initial three years, the RBI assistant salary slip indicates a salary of ₹24,300. Post which, the annual hike will be increased to ₹1,440 for the next four years.
• After seven years of joining, the RBI assistant officer's salary will become ₹30,060. Then, the annual hike will be increased to ₹1,920 for the next six years.
• After thirteen years of joining, the salary of an RBI clerk will become ₹41,580. Then, the annual hike will be increased to ₹2,080 for the next two years.
• After fifteen years of joining, the RBI assistant officer's salary will become ₹45,740. Then, the annual hike will be increased to ₹2,370 for three years.
• After eighteen years of joining, the salary of an RBI clerk will become ₹52,850. Then, the annual hike will be increased to ₹2,850 for one year.
• After nineteen years of joining, the RBI assistant salary slip will indicate a salary of ₹55,700. This is the maximum amount that can be paid to an RBI assistant. These details are also tabulated below

RBI Assistant Eligibility Criteria

The candidates who want to apply for the position of RBI Assistant must hold a graduate degree from a recognised university. They must have obtained at least 50% marks as per the final transcript. They must be proficient in basic computer skills. The aspiring candidate should be at least 21 years old and must be less than 28 years old. 

Assistant Allowances

Below are some of the allowances offered by RBI to its employees:

• House Rent Allowance (only in cases when accommodation is not provided)
• Dearness Allowance
• Transport Allowance
• Compensatory Allowance

Also read: What Is The Average Interior Designer Salary in India | Khatabook

RBI Assistant Perks

Apart from a competitive salary, RBI offers some of the perks listed below to its employees: 

• Accommodation: Government employees are often transferred to different locations, and in that case, accommodation is provided for by the RBI.
• Reimbursement for vehicles: This is given for the maintenance charge of vehicles used for official use.
• Allowances for newspapers, furniture, office stationery, etc.
• Medical Benefits: In addition to medical insurance for the employees, RBI extends the insurance terms to their family members as well.
• Housing loan: RBI offers a housing loan of up to ₹30 lakhs to its employees at very nominal rates.
• Education loan: RBI offers the facility of educational loans to its employees for their children. The loan can be availed for up to ₹20 lakhs at very nominal interest rates.
• Gratuity: Gratuity is provided to RBI assistants according to The Payment of Gratuity Act, 1972.
• Pension
• Advance on festivals without any interest
• Leave Fare Concessions

RBI Assistant Job Profile

An RBI Assistant has to follow the following roles and responsibilities:

• The primary role of an RBI Assistant is Maintenance of files, collection of receipts, balancing tally, maintenance of ledgers, etc.
• They are also in charge of verification of each, and every document
• The RBI Assistant aids in the Issuance and Circulation of currency
• They are also expected to reply to all the emails received and maintain a log of emails
• They are also expected to make sure of financial stability
• They follow a working week of 5 days, with all the major government holidays.

RBI Assistant Career Growth

Being the most important bank in India, RBI offers immense opportunities for career growth to its employees. Some of the details related to the career growth of RBI employees are mentioned below:

• To be promoted to the level of an RBI Assistant Officer, an RBI assistant must complete 2 years of service in the role.
• After working for 2 years as an RBI Assistant, they must fill in an application for a Promotion Test.
• An RBI Assistant can be promoted to the level of Grade A Officer via two processes:

1. Normal procedure: The candidates must pass the written promotion test, and they will be promoted to the level of Grade A Officer based on their work experience.
2. Merit-based procedure: The candidates must obtain two years of work experience as an RBI assistant after graduating from college. They should also appear for the CAIIB and FAIIB organised by the Indian Institute of Banking and Finance (IIBF).

• The candidates who are selected after the examination can be promoted to different officer grade positions, such as

1. Grade A - RBI Assistant Officer
2. Grade B - RBI Manager
3. Grade C - RBI Senior Manager
4. Grade D - RBI Chief Manager 

• Generally, the RBI assistant manager's salary is about ₹12,81,766 per annum.

Also read: Home Guard Salary - Home Guard Salary Details, Application Process & Benefits

Conclusion

According to the RBI Assistant Notification 2022, the basic salary of a new RBI Assistant is ₹20,700. The RBI assistant salary and perks are very attractive to prospective employees. The perks include free accommodation, loans at nominal rates, medical benefits, allowances (e.g. dearness allowance), etc.

Follow Khatabook for the latest updates, news blogs, and articles related to micro, small and medium businesses (MSMEs), business tips, income tax, GST, salary, and accounting.